Prime Minister Narendra Modi will visit Mumbai and Palghar in Maharashtra on Friday and lay the foundation stone of Rs 76,000 crore-worth Vadhvan Port located near Dahanu town in Palghar district.

The Vadhvan Port will be one of India’s largest deep-water ports and will provide direct connectivity to international shipping routes, reducing transit times and costs.

Equipped with state-of-the-art technology and infrastructure, the port will feature deep berths, efficient cargo handling facilities, and modern port management systems.

Once operational, the port will enhance India’s maritime connectivity and further strengthen its position as a global trade hub. The port will cater to large container vessels, offering deeper drafts, and accommodating ultra-large cargo ships.

Vadhvan is expected to generate significant employment opportunities, stimulate local businesses, and contribute to the overall economic development of the region. The project incorporates sustainable development practices, with a focus on minimizing environmental impact and adhering to stringent ecological standards.

In Mumbai, the Prime Minister will address a Special Session of Global Fintech Fest (GFF) 2024 at the Jio World Convention Centre. GEF is being jointly organised by the Payments Council of India, the National Payments Corporation of India and the Fintech Convergence Council.

Around 800 speakers, including policymakers, regulators, senior bankers, industry captains, and academicians, from India and various other countries will address more than 350 sessions in the conference.

It will also showcase the latest innovations of the fintech landscape. Over 20 thought leadership reports and white papers will be launched at GFF 2024, offering insights, and in-depth industry information.

Mr Modi will inaugurate and lay the foundation stone of various development projects at CIDCO ground, Palghar also.

He will inaugurate and lay the foundation stone of 218 fisheries projects worth around Rs 1,560 crores, aimed at bolstering the sector’s infrastructure and productivity across the nation. These initiatives are expected to generate more than five lakh employment opportunities in the fisheries sector.

The Prime Minister will launch the National Roll-Out of Vessel Communication and Support system at a cost of around Rs 360 crores. Under this project, one lakh transponders will be installed in a phased manner on mechanised and motorised fishing vessels in 13 coastal States and Union Territories.

The vessel communication and support system is indigenous technology developed by ISRO, which will help in establishing two-way communication while fishermen are at sea and also help in rescue operations as well as ensure safety of our fishermen.

Other initiatives to be inaugurated by the Prime Minister in Maharashtra include the development of fishing harbours and Integrated Aquaparks, alongside the adoption of advanced technologies such as the Recirculatory Aquaculture System and Biofloc.

These projects will be implemented across multiple states and will provide crucial infrastructure and high-quality inputs to enhance fish production, improve post-harvest management, and create sustainable livelihoods for millions involved in the fisheries sector. Along with fishing harbours, fish landing centres and construction of fish markets will be launched.